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by Seth Parker on August 16th, 2018

Populous (PPT) Analysis – Aiming the down trendline

Now, an update about the instrument, that we were talking about two weeks ago – Populous. Back in that day the price was around 4 USD and we were bearish:

“PPT bounced from that area yesterday and today we do have a continuation of this movement, which can be perceived as a confirmation. The sentiment is negative and in the next few days/weeks, we should see the further decline. „

ppt chart

Since those words were written, the price was mostly going lower. On Monday, we reached lows on the 2,5 USD. First signs of the demand can be seen today as the price is climbing higher around 17%. Buyers are trying to reach the first resistance on the blue line and the movement there is almost certain. Even with the today’s rise, it is still too early to claim the bullish victory. As long as the price stays below the yellow area, the sentiment in the mid-term is still negative.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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